Meghan’s Guide to the NBE / Funeral Service
Hello, there!
This is a recorded audio study guide for both the NBE Arts and Science sections for Funeral Service.
I have devoted myself to creating a solid audio study guide so that my fellow test takers can finally have one that is not only easily accessible, but is also highly educational and comprehensive. This Podcast will be divided up into Arts and Sciences sections, with segments under each including more in-depth notes and study guides that I have put together either on my own or from submissions from other classmates/testers. If you would like to add your own contribution, please email me at meghan.dmfh@gmail.com or message me on Facebook under Meghan Opocensky. I am ALWAYS extremely appreciative of any additional content I can get to add!
Thank you so much for choosing to join me for my study sessions and I hope that together we can get you through this and pass with flying colors!
Just remember, there is no true way to be completely prepared for these exams asides from knowing the content. You will not be able to pass with just a quick rehashing of the information, so please do not rely on these guides as your only means of preparation last-minute. I want to see you succeed! I always tell people to read their textbooks as the exams are pulled almost word-for-word from them, I highly recommend reading the 21st Century Funeral Directing & Funeral Service Management, Grief Counseling/Psychology, Sociology for Funeral Service textbook and Types of Funeral Services & Ceremonies 2nd Edition for Arts, Embalming: History, Theory, & Practice, Restorative Arts and Science, Chemistry, Pathology and Anatomy textbooks for Science. If you read these during your time in Mortuary school-I encourage you to still read them again. ESPECIALLY your 21st Century one!
I will provide a good amount of notes pulled directly from these textbooks, but you’ll still want to read them beforehand so you can have a solid understanding of these topics beforehand. KNOW YOUR DEFINITIONS!
Meghan’s Guide to the NBE / Funeral Service
The Conference Vol. 12.3 Glossary Terms: Arts (ACCOUNTING)
Hello all!
The content for this episode has been pulled from The Conference: The International Conference of Funeral Service Examining Boards: National Board Exam Study Guide Volume 12.3's glossary for their Arts section.
*Accounting, pgs. 43-48*
ALL credit is given to The Conference and all references cited in their guide, including the American Board of Funeral Service Education. A full list of cited references is located at the back of this book.
This podcast is meant for educational purposes ONLY.
I have also started a YouTube Channel to coincide with this Podcast that I highly suggest following and subscribing to if you have not already! I will be offering in-depth visual aids of the various places of worship, casket construction and parts, etc.!
The link to my channel is:
https://www.youtube.com/@MeghanOpocensky
Definitions that repeat:
Allowance for doubtful accounts: a contra- asset account utilized to accumulate totals against accounts receivable
Deposit ticket: a bank form that lists those cash items (currency/coin) and individual checks to be deposited
Double entry bookkeeping: the process of recording equal debits and credits for a single business transaction
Gross pay: income before any deductions have been made
Gross profit: net sales minus the cost of goods sold
Long-term analysis: properties of a relatively permanent nature used in the operation of a business and not intended for resale
Long-term liabilities: liabilities that are not due and payable within one year
Merchandise: goods purchased for resale at a profit
Net pay: gross pay less payroll deductions: employee's take home pay
Net profit: difference between gross profit and expenses when expenses are larger
Net worth: amount by which the total assets exceed the total liabilities of a business: owner's financial interest in a business
Overhead: expenses incurred in the normal operation of a business
Owner's equity: amount by which the total assets exceed the total liabilities of a business: owner's financial interest in a business
Owner's withdrawals: separate owner's equity account in which withdrawals of cash/other assets by the owner for personal use are recorded
Proprietorship: amount by which the total assets exceed the total liabilities of a business: owner's financial interest in a business
Quick ratio: quick assets divided by current liabilities
Recording: committing of a business transaction and the events surrounding such into writing
Statement of financial position: size statements/percentage method- express the major items in the balance sheet as a percent of the total assets and compare with previous fiscal periods
Statement of operations: size statements/percentage method- express the major items in the income statement as a percent of net sales and compare with previous fiscal periods
Statement of owner's equity: formal financial statement which summarizes all of the changes in owner's equity during a specified period of time
Take home pay: gross pay less payroll deductions: employee's take home pay
Time: period of time from the date of the note to the maturity date
Undepreciated cost: cost of a fixed asset less its accumulated depreciation
